Invest Rs 1791 every month in LIC New Bima Bachat Yojana and get Rs 5,00,000
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LIC is the most trusted investment company in the country. New Bima Bachat Yojana is a savings and insurance plan offered by Life Insurance Corporation of India (LIC). This plan is designed to provide financial security to the policy holders and their families in case of untimely death or disability. The scheme also offers maturity benefit to the policy holders at the end of the policy term.
Benefits of LIC New Bima Bachat Plan:
One of the major advantages of New Bima Bachat Plan is the flexibility it offers. Policy holders can choose from a wide range of policy terms, premium payment options and sum assured to suit their individual needs. Additionally, the plan offers policy holders the option to increase the sum assured by a fixed percentage every year, providing increasing protection over time.
Another advantage of the New Bima Bachat Plan is the maturity benefit offered at the end of the policy term. Policyholders surviving the policy term will receive an amount equal to the Sum Assured along with the accumulated bonuses over the policy term. It provides a valuable source of savings and financial security for the policy holders and their families.
How to apply and who can apply for LIC New Bima Bachat Yojana:
To apply for the New Bima Bachat Yojana, individuals can visit the nearest LIC branch or approach an LIC agent. The application process usually involves filling out an offer form and providing proof of identity and age. Individuals in the age group of 8 to 55 years are eligible to apply for the scheme.
The premium for the New Bima Savings Plan is determined on the basis of the policy holder’s age, sum assured and policy term. Policy holders can choose to pay their premiums on a monthly, quarterly, half-yearly or yearly basis.
Example for LIC New Bima Bachat Plan
For example, consider a person named Ramesh, who is 30 years old and opts for a policy term of 20 years with a sum assured of Rs.5,00,000. If Ramesh wants to pay his premium annually, he will have to pay a premium of approximately Rs 21,500 per year. If Ramesh survives the policy term, he will receive a maturity benefit of Rs.5,00,000 along with accumulated bonuses. Additionally, if Ramesh passes away during the policy term, his nominee will receive an assured sum of Rs 5,00,000, providing financial security for his family.
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